In an op-ed published in the American Banker last week, Eugene Ludwig, CEO of Ludwig Advisors, examines the challenges of reforming US bank regulation, highlighting past failures and political obstacles.
The Trump administration seems inclined to consolidate agencies to reduce costs and improve efficiency, Ludwig explains. This may include shifting the Federal Deposit Insurance Corporation's (FDIC) supervisory role to the Office of the Comptroller of the Currency (OCC), placing the FDIC's insurance and resolution functions under the Treasury, and limiting the Consumer Financial Protection Bureau's (CFPB) influence. While the CFPB is not set for elimination, its resources are likely to be cut.
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